01:38 PM EST, 12/03/2024 (MT Newswires) -- Tech stocks were mixed in Tuesday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) little changed, paring earlier losses, and the SPDR S&P Semiconductor ETF (XSD) rising 2%.

The Philadelphia Semiconductor index shed 0.5%.

In corporate news, Palantir ( PLTR ) received FedRAMP "high authorization" for its cloud services, opening the door for more offerings to US government units. The shares jumped 5.4%.

Microchip Technology ( MCHP ) shares fell 5%, a day after the company said it expects fiscal Q3 revenue to be close to the low end of its guidance range of $1.03 billion to $1.1 billion.

Honeywell ( HON ) lowered its Q4 and full-year outlook as the company agreed to provide aviation-related technology to Canadian aircraft maker Bombardier. Honeywell ( HON ) shares shed 1.7%.